7 August 2018
- Quotation rates in Q2 2018 increased slightly since the previous quarter, but are still below the record level of activity during 2017.
- Interest in transfer values continues to be highest at older ages, with an average age of 54 across members requesting a quotation in Q2 2018, compared with 51 for the deferred population as a whole.
- For the 20% of schemes that allow partial DB transfers, we are seeing increasing interest from members, with double the number of partial transfers taken during the first 6 months of 2018 compared with the whole of 2017.
- New FCA advice rules coming into effect in October 2018 could have a significant impact on take-up rates, particularly for schemes offering “less generous” transfer values.